Local Scholarship Information & Real Estate News!

SAN ANGELO SCHOLARSHIPS 

The San Angelo Association of Realtors (SAAR) has just announced its inaugural Scholarships offered to the Concho Valley. They will be offering TWO $1000 scholarships. One for general academics and the other for a trade school. All graduating seniors within the SAAR boundary are eligible. I also wanted to include additional scholarship information that I have found. Gandy Inc. has ten scholarships available. Below are links for applications and additional info. 

SAAR General Scholarship
SAAR Trade School Scholarship
Gandy, Inc. Scholarships
Area Foundation Scholarship Info
Central High School Scholarship Info
Howard College Trade School Scholarships

MARKET REPORT

March sales are staying steady. In the past seven days there have been over 75 new listings, 45 closings and another 50 go under contract. Looking back at the February totals. There were 97 closings (down from 114 in February 2023) for San Angelo residential sales. Even though total sales were lower than last year, it looks like we will overtake last year's number this Spring. There is a lot of demand from first-time home buyers and military relocation right now. We are still seeing multiple offers and quite a few cash offers.  New home sales continue to improve as well. There are currently 34 new homes waiting to close and 67 for sale on the MLS. 

San Angelo has 522 active homes for sale as of 3/5/24. Here is a breakdown of price ranges as well as a link to check them out...

Under 100k - 29
100 - 200k - 127
200 - 300k - 146
300 - 400k - 91
400k+ - 131

INTEREST RATES

We now have two straight days of small drops in the Mortgage interest rate. The 10-year treasury dropped further on Tuesday than it has in a few weeks. This should be good for interest rates this week. The Fed meets next week to confirm that there will not be any reduction in the Fed rate. This is the rate at which banks borrow money. This is not news so it hopefully will not hurt the treasury rates. We will then have to wait to see if good news comes in May at the Fed meeting. There are too many inflation numbers between now and then to give a good guess of what may happen. 

Local lenders are still offering quite a few different products to help with down payment assistance. One loan making a comeback is the USDA loan. This is a 0% down, FHA loan for homes located out of the San Angelo city limits. If you have questions about the USDA loan or general lending questions, our team is up to date with the information to guide you in the right direction. Buying, Selling or Refinancing! 

Looking to BUY or SELL in 2024??
Interview Home and Land Group at ERA Newlin & Company for the Job!!

- Janet Ridgway, REALTOR® 325-212-9451

-Samantha Tarr, REALTOR® 325-340-7252

Thank you for your time today
We look forward to working with you now or in the future...

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